Partner (medtech), Venture Investments
Novo Holdings | San Francisco | Full-time | apply.workable.com |
Novo Holdings is seeking a Partner (medtech) to join the Venture Investments team in our San Francisco office.
The successful candidate will be part of our team responsible for originating, analyzing, and managing our medtech investments. Our private and public investing activities implement a long-only strategy focused on small and mid-cap biotech and medtech companies driven by science, data, and a long-term view. Efforts in this area are primarily focused on pre-clinical and clinical-stage biotechnology companies as well as high-growth revenue-stage medical technology opportunities. We have a broad mandate to invest in crossover, IPO, follow-on financings, PIPEs, and open market transactions. Specific responsibilities may include, but are not limited to, the following:
• Identify new medtech investment opportunities that fit the Novo Holdings investment criteria
• Conduct initial meetings with companies to identify which merit further diligence work
• Following the internal Venture Investments procedure, promote worthwhile companies to high-priority cases. Lead the assessment of management teams, science, clinical development plans, regulatory outlook, commercial opportunities, intellectual property, competitive landscape, and valuation analysis to help determine the overall attractiveness of potential investment opportunities
• Negotiate terms and draft term sheets for those investments that Ventures Investments decides to make
• Syndicate investments with investment partners
• Working with external legal advisors and Novo Holdings’ legal department to complete legal documentation for investments
• Prepare mandates as required for Novo Holdings' approval of investments
• Take board seats on portfolio company boards and work with these portfolio companies to maximize their chances of success and so generate financial returns for Novo Holdings. This will typically involve participation in various board subcommittees as well as in general board meetings
• Periodically assess the merits of further investments in portfolio companies judging whether further (follow-on) investments are justified and negotiate terms of such investments
• Working with portfolio company board members, seek exits that will maximize ROI and, following negotiation, prepare exit mandates seeking the approval of such exits from Novo Holdings
• Train and mentor junior team members
Requirements
We are looking for a candidate with:
• 5+ years of investing experience at a partner level
• A strong scientific and/or clinical background, with a Ph.D. and/or M.D. in life sciences
• 15+ years of non-academic relevant work experience in analyzing biotech and/or medtech companies – ideally in buy-side or sell-side equity research, investment banking, and management consulting with a focus on healthcare or business development
• Strong track record of generating investment ideas and investment opportunities; and track record of generating good returns
• Detailed knowledge of product development and the assessment of risks involved in investments in R&D stage companies
• Experience in structuring venture investments
• Experience in Board work
• Knowledge of medical device industry structures and markets
• Proficiency with financial statement analysis, accounting, and financial modeling
Personal Qualifications
• Strong work ethic
• Ability to work with cross-cultural / multi-office teams
• Passion for healthcare investing
• Organized and detail-oriented, with a demonstrated ability to multi-task
• Strong interpersonal skills and ability to build good relationships
• Ability to lead a team
• Promotes an inclusive, respectful, and positive environment
Benefits
Medical and dental, retirement, 5 months of parental leave regardless of gender, commuting reimbursement, One Medical membership, fitness reimbursement, family planning benefits, home internet reimbursement, daily catered lunches, generous PTO and holiday time.
The successful candidate will be part of our team responsible for originating, analyzing, and managing our medtech investments. Our private and public investing activities implement a long-only strategy focused on small and mid-cap biotech and medtech companies driven by science, data, and a long-term view. Efforts in this area are primarily focused on pre-clinical and clinical-stage biotechnology companies as well as high-growth revenue-stage medical technology opportunities. We have a broad mandate to invest in crossover, IPO, follow-on financings, PIPEs, and open market transactions. Specific responsibilities may include, but are not limited to, the following:
• Identify new medtech investment opportunities that fit the Novo Holdings investment criteria
• Conduct initial meetings with companies to identify which merit further diligence work
• Following the internal Venture Investments procedure, promote worthwhile companies to high-priority cases. Lead the assessment of management teams, science, clinical development plans, regulatory outlook, commercial opportunities, intellectual property, competitive landscape, and valuation analysis to help determine the overall attractiveness of potential investment opportunities
• Negotiate terms and draft term sheets for those investments that Ventures Investments decides to make
• Syndicate investments with investment partners
• Working with external legal advisors and Novo Holdings’ legal department to complete legal documentation for investments
• Prepare mandates as required for Novo Holdings' approval of investments
• Take board seats on portfolio company boards and work with these portfolio companies to maximize their chances of success and so generate financial returns for Novo Holdings. This will typically involve participation in various board subcommittees as well as in general board meetings
• Periodically assess the merits of further investments in portfolio companies judging whether further (follow-on) investments are justified and negotiate terms of such investments
• Working with portfolio company board members, seek exits that will maximize ROI and, following negotiation, prepare exit mandates seeking the approval of such exits from Novo Holdings
• Train and mentor junior team members
Requirements
We are looking for a candidate with:
• 5+ years of investing experience at a partner level
• A strong scientific and/or clinical background, with a Ph.D. and/or M.D. in life sciences
• 15+ years of non-academic relevant work experience in analyzing biotech and/or medtech companies – ideally in buy-side or sell-side equity research, investment banking, and management consulting with a focus on healthcare or business development
• Strong track record of generating investment ideas and investment opportunities; and track record of generating good returns
• Detailed knowledge of product development and the assessment of risks involved in investments in R&D stage companies
• Experience in structuring venture investments
• Experience in Board work
• Knowledge of medical device industry structures and markets
• Proficiency with financial statement analysis, accounting, and financial modeling
Personal Qualifications
• Strong work ethic
• Ability to work with cross-cultural / multi-office teams
• Passion for healthcare investing
• Organized and detail-oriented, with a demonstrated ability to multi-task
• Strong interpersonal skills and ability to build good relationships
• Ability to lead a team
• Promotes an inclusive, respectful, and positive environment
Benefits
Medical and dental, retirement, 5 months of parental leave regardless of gender, commuting reimbursement, One Medical membership, fitness reimbursement, family planning benefits, home internet reimbursement, daily catered lunches, generous PTO and holiday time.
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